Although it posted a slowing in sales growth Marks and Spencers , chief executive Stuart Rose received £3.6 million in salary and bonuses last year, up 68 per cent on a year ago .
Wednesday, July 11, 2007
Friday, June 08, 2007
Once again continuing our exposure of the capitalist fat cats we read that Marks and Spencer chief executive Stuart Rose received £3.6 million in salary and bonuses last year, up 68% on a year ago . Socialist Courier very much doubt whether staff will be receiving a 68% pay rise this year
Rose saw his salary rise from £975,000 to £1.05 million - and was given a £2.6 million cash and shares bonus.
Under a long-term pay plan, he also stands to get the firm's maximum bonus of four times his salary - worth £4.2 million .
M and S's annual report revealed that Mr Rose was in line for a further £8 million in cash and shares if the firm continued to grow profits at 10% or more.
The company also paid bonuses of £1.3 million each to finance director Ian Dyson and head of marketing Steven Sharp on top of their £525,000 salaries .
Paul Myners, the former chairman who stepped down in July 2006, is being provided with a car and driver for two years, even though he is no longer employed by M and S. From August last year to March this year, it has cost £56,245 to ferry Mr Myners around.
A myth pervades that 1917 was a 'socialist' revolution rather it was the continuation of the capitalist one. What justification...
The Socialist Party insist the working class is the only social force capable of putting an end to capitalism—the root cause of econom...
The life expectancy of people born in many parts of Scotland has fallen, as health chiefs continue to be worried about the worsening figu...